What could economic regulation look like in 10 years?
In our view, tweaks to the PR19 approach are not going to be sufficient to address the current challenges. We have thought about how economic regulation should evolve over the next decade. We believe there should be a more integrated approach to service, costs and risk and reward. Using more and better data to transform economic regulation should become the norm, as should better long-term incentives. Finally, regulatory burden must be reduced.
If this is to become a reality, what does this mean for outcomes, costs and risk and reward? We have developed a series of papers that point to possible answers. Read our insights below.